The ageing population is one of the most significant social
transformations of the 21st century, impacting various sectors (United Nations,
2023). In marketing, seniors—typically defined as individuals aged 50 and
above—are a valuable target group due to their favourable economic factors,
lack of time constraints, and fewer commitments, leading to high consumption
potential. This study addresses the issue of luxury consumption among seniors
by examining the impact of advanced age on the emotions and psychological
antecedents involved in the consumption of luxury products. Furthermore, it
aims to highlight the differences among various segments of senior consumers in
this context. As the first study to focus specifically on these aspects for
senior consumers, a qualitative, exploratory approach was deemed necessary. To
this end, 30 individual interviews were conducted with luxury consumers aged 50
and over. The study was conducted in France, and the respondents were randomly
selected and interviewed in various locations, such as museums, luxury
restaurants and hotels. The results underscore the importance of considering
the role of both positive and negative emotions in luxury consumption, as well
as the presence of emotional ambivalence related to advanced age among the
participants. Moreover, senior luxury consumers referred to psychological
antecedents associated with brand consciousness, materialism, and self-esteem.
With a high purchasing power, increasing market size, and distinct behaviour
compared to younger people, seniors are seen as newcomers in luxury marketing
and deserve special attention. Despite extensive research on luxury consumers,
most studies have focused on a younger demographic. However, both academics and
practitioners have recognised the unique characteristics of senior consumers
and their significant potential in the luxury sector. Understanding the nuances
of ageing and its impact on luxury consumption is essential to effectively
addressing this market. This knowledge helps develop better managerial insights
and product offerings that strengthen the connection between senior consumers
and luxury brands. The geographical limitation of the study presents
opportunities for future research in diverse contexts, notably in
cross-cultural studies on luxury consumption. Moreover, subsequent studies
should explore the role of subjective age in shaping the emotional and
psychological factors underlying luxury purchase intentions.
Author(s) Details
Cyrine Khalfallah
Bargaoui
Department of Marketing, University of Tunis El Manar - FSEG, Tunis,
Tunisia.
Please see the book here :- https://doi.org/10.9734/bpi/nabme/v11/6448
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